Nintendo shares were lifted around 4.5% in Japan today following weekend reports that Saudi Arabia's Public Investment Fund (PIF) is mulling taking a higher stake in the global entertainment and video games empire.
Prince Faisal bin Bandar bin Sultan Al Saud, vice chair of Saudi’s sovereign wealth fund’s gaming division, disclosed the plan to Kyodo News on Saturday.
The PIF is also seeking other investments in the Japanese gaming and entertainment sectors, reported Kyodo News
According to the report, the Saudi fund currently owns 8.58% of Nintendo’s outstanding shares.
Nintendo stock was trading at 8,087 Japanese yen (4,161p), with a 10.5 trillion yen (£7.7 billion) market capitalisation at the time of writing.